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Social media as in FB is useless, X can be useful — depends where you look for stuff, Instagram is useless as FB, Reddit I like it — it's similar to forums.
Telegram, X, Discord, Reddit, it can be useful but I still think the hours you can spend on it (judging on myself here) is not worth it. You literally will lose months of your life doomscrolling and not really benefiting from anything other than 'networking'.
Never did networking. I use Telegram, Discord, X to keep up with announcements from projects, takes an hour or two daily, depending on day and allows me to keep up with alll shit going on with coins I hold — it's also a kind of necessity because projects often come with this migration and shit like that, it's necessary to keep up.